In the News

Local economists predict continued growth for DFW based on job and personal income gains, higher home prices and fewer bankruptcies. Job growth is forecast at 2.2% this year and next, compared with the US average of 1.6%. And rising home prices nationwide will spur relocation by job seekers.

18 Fortune 500 companies are located in DFW…the DFW economy is the 6th largest in the US and 14th largest in the world (Dallas Regional Chamber). Area home sales were up in January to the highest rate since 2007; median home prices were up 9%, condos up 14%.

And if you are wanting Preston Hollow Real Estate home for sale, just ask.

District 1444 will be constructed in the Design District at Dragon Street and Oak Lawn Avenue. The five-story complex will have 224 apartments with features including pool deck lounge, fitness center, fire pits and gardens. Ground floor will have 46,000 square feet of retail and restaurants – three of the five restaurant spaces are already leased.

DFW home prices are up by the largest percentage in a decade, rising 5.7% in November, the 9th month in a row. The last comparable increase was in 2001. Economists at the Texas A&M Real Estate Center said it’s the best time in years to sell a house.

Home sales were up in most areas of Dallas in 2012: far north Dallas +31%, avg $117 sf; north Dallas, +28%, avg $195 sf; east Dallas +29%, avg $134 sf; Oak Lawn +53%, avg $181 sf; Park Cities +19%, avg $296 sf.

Jack Mathews has bought 157 acres at the Dallas North Tollway and US 380, hoping to build a $1 billion mixed use project. Mathews was the builder for the downtown Omni Hotel and has been rumored to have an interest in acquiring the Museum Tower.

The preowned home market in north Texas in 2012 was the best in 4 years with a 16% increase in sales and 8% rise in media prices. December home sales were up 10%, condos up 32%.

DFW foreclosures are down 42% from a year ago, lowest level since 2005. Dallas and Denver home prices are closest to levels before the recession. Local economists say Dallas and Texas are probably a year ahead of most metro areas in recovery.

Pre-owned home sales are up 17% through November, with prices up 8%. Home starts are up 25% since 2010 with a 15% rise forecast for 2013. US home building rose to the highest level in 19 months in November.